Sunday, August 3, 2025

The Truth Banishes Fear!

Apprehension As CBN Fires 50 More Staff, Brings Total Number To 117

The New Diplomat
Writer

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Concerns Mount As Numbers Soar In 20 Days

By Abiola Olawale

There are fears and apprehension within the administrative structure of the Central Bank of Nigeria (CBN), as the apex bank has reportedly approved the sack of 50 more staff.

It was gathered that the 50 staff who were allegedly sacked cut across 29 departments in the apex bank, adding to the list of ongoing disengagements.

This is said to have brought the number of those sacked to a total of 117 in the last 20 days. The sack is said to cut across directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking staff.

The distribution of termination letters, which started on March 15, has continued every other week with palpable apprehension amongst staff of every cadre as the management has not specified any standard criteria for the decisions.

Since the commencement of the sack exercise, it was gathered that officials of the apex bank have refused to comment on the matter.

The New Diplomat reports that the ongoing disengagement of staff in the apex bank is coming amidst reports that the Olayemi Cardoso-led CBN is reportedly battle-ready to fire all staff who had strong working ties with the embattled erstwhile CBN governor, Godwin Emefiele.

It would be recalled that this latest development came after the CBN had reportedly relocated about 150 staff of the Banking Supervision Department (BSD), which is one of the 29 departments of the bank, to Lagos.

The move had generated mixed reactions across the country, with many alleging that it was an attempt to dislodge staff who are northerners from the institution.

But the CBN dismissed those insinuations, insisting that it was part of a proper reorganization of the bank, to ensure that the regular onsite examination of the 24 banks in the country was diligently carried out since most of those national and regional banks are headquartered in Lagos.

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